Revolut is planning to challenge major US financial institutions, including JPMorgan Chase and American Express, by launching a full-service digital bank and credit cards with competitive rewards. CEO Nik Storonsky stated that the company aims to dominate the US market, targeting younger, affluent consumers, expats, and travelers.
Before the full launch, the fintech must secure regulatory approval in the US. The company intends to prioritize personalized banking services, followed by credit cards and loans, eventually introducing its broader European product suite to American users. Currently, the US business operates through a partner bank and is already profitable.
The company is also developing AI-powered shopping tools that allow users to delegate online purchases to automated agents. These agents will browse sites like Amazon while Revolut manages payment security. Testing for this feature is scheduled to begin in the UK this December, followed by an expansion across Europe.
Storonsky anticipates a significant shift in digital interfaces, where back-end logic and API compatibility for AI agents will become more critical than traditional mobile apps or websites. He expects AI-driven automation to become widespread over the next five years, potentially impacting employment in the digital services sector.
Regarding corporate strategy, Storonsky confirmed that the US is the primary target for a potential initial public offering. The company is also considering a dual listing in both the UK and the US.
